4E: Trade Truce Expectation Ignites Market, US Stocks and Crypto Market Soar
BlockBeats News, April 23rd. According to 4E monitoring, on Tuesday, Trump made remarks softening his tariff policy, stating that the tariffs on China were too high and is expected to see a significant reduction in the tax rate. With the optimistic expectation of the China-US tariff negotiations, global trade tensions eased, risk sentiment improved, and the US stock market soared. The S&P 500 closed up 2.5%, the Dow Jones rose by 2.66%, and the Nasdaq increased by 2.71%. Large-cap tech stocks recovered from the previous day's losses, with the Big Seven Tech Index up by 2.84%.
The cryptocurrency market saw a collective rise, with Bitcoin continuing its strong performance. After breaking through the $90,000 mark last night and accelerating its rise, this morning it briefly approached $94,000, hitting a new high since early March, and is now trading at $93,063, with a 5.6% intraday gain. Ethereum reversed its recent decline, surging by 14% and breaking through $1800. The altcoin market rose across the board, with the total cryptocurrency market cap increasing by 5.4%.
In the forex and commodity markets, the US dollar index saw a strong rebound, rising by 0.65%, while international crude oil surged nearly 2%; as risk appetite returned, the international gold price, which had hit consecutive record highs, gave back some of its gains, with spot gold falling by 1.25%.
Trump's softened tariff remarks and his mild stance towards Powell shifted the investment sentiment from previous concerns to optimism. Going forward, the progress of trade negotiations and the direction of the Fed's monetary policy will be the focus of attention.
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